DIFS reports that eight filings are from returning companies and one (Oscar Insurance Company) is a new insurer that filed for inclusion in the Marketplace.

“Michigan consumers are very fortunate to have such a strong line-up of insurers for the Michigan Health Insurance Marketplace,” said DIFS Director Patrick McPharlin. “Michigan’s competitive market coupled with improved claims experience has led to providers proposing moderate rate changes for 2019. Some proposed rate filings even indicate a decrease in rates for the 2019 plan year.”

DIFS reports that the average filed rate changes on a premium weighted basis range from -2.5 percent to 11 percent for the individual market and -9.5 percent to 8.5 percent for the small group market. The Michigan Health Insurance Rate Change Request Charts are located on the DIFS website.

These charts show the companies’ proposed average rate change, the number of affected individuals, and various statistics about plan offerings, including the number of plans experiencing 10% or greater rate increases. The charts also provide tracking numbers to easily access the DIFS’ SERFF portal for detailed rate information. Approved rate changes will be added to the chart once DIFS completes its review.

DIFS is seeking public comment on these proposed rate changes. Comments submitted prior to July 23, 2018 will be considered in DIFS review.

rate changes are an average percent change across all plans, some consumers will experience rate changes either greater or less than those in the chart;

an increase or decrease does not reflect how a health insurer’s premiums compare to others; and

individuals who receive a tax credit that covers a portion of their premium will experience rate changes that differ due to the tax credit calculation.

“We welcome public input and encourage anyone with comments to submit them electronically. DIFS is committed to transparency in the rate review process,” added McPharlin.

Open enrollment for Michigan’s federally-facilitated health insurance marketplace will begin November 1, 2018 and closes on December 15, 2018, with coverage effective on January 1, 2019. Information about the marketplace is available at www.healthcare.gov. Michigan residents with health insurance questions can visit www.michigan.gov/hicap.

The mission of DIFS is to work to provide a business climate that promotes economic growth while ensuring that the insurance and financial services industries are safe, sound and entitled to public confidence. DIFS provides consumer protection, outreach and education services to Michigan citizens. It strives to create and maintain active relationships with both consumers and licensees in the insurance and financial services industries to ensure adequate protections while fostering growth, strength and sustainability.